Kaboodle Ltd has ceased trading with immediate effect after the kitchen appliance supplier and installer ran into financial difficulties.
The company confirmed it has entered creditors’ voluntary liquidation, with BRI Business Recovery and Insolvency appointed to oversee the process.
Cash constraints forced the closure, according to commercial director David Simpson.
In a statement, the firm said: “We regret to inform you that Kaboodle Ltd has ceased trading with immediate effect.”
The company said customers will be contacted directly regarding the liquidation process, including how to submit claims for any outstanding debts.
Established in 2005, Kaboodle expanded into a nationwide white goods business with the capability to install kitchen appliances across the UK.
The firm operated from five depots located in Highbridge, Basingstoke, Stevenage, Telford and Leeds.
Its core operations focused on supplying and installing home appliances for retailers and manufacturers.
Kitchen appliance firm Kaboodle collapses into liquidation after cash crisis
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GETTY
Kaboodle also provided fitting services for kitchen units and operated an apprenticeship scheme in partnership with North Hertfordshire College.
Prior to its collapse, the company had been attempting to restructure its business to focus on the home installation market.
This strategy involved withdrawing from the housebuilder sector following market challenges.
Mr Simpson said: “I’m sad to formally advise that Kaboodle is to be liquidated as a result of cash constraints.”
Mr Simpson announced the liquidation on LinkedIn
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David Simpson/LinkedIn
He said the situation would be difficult for those affected and thanked customers for their support.
Mr Simpson said: “We were charged with restructuring the business to dedicate ourselves to the Home Installation market some time ago, meaning that we needed to exit our Housebuilder sector.”
The liquidation follows the company’s recent decision to step back from housebuilding work.
Customers holding stock with the company have been instructed to arrange collection by May 8.
The firm said it cannot guarantee access to inventory after this date as staff will be leaving and control of premises may pass to the liquidator or landlords.
All collections must be arranged in advance with the relevant site, with customers required to provide suitable transport and handling equipment.
Matthew Pitt, founder and former managing director, said: “Sad to hear the news about the closure of Kaboodle today, it’s very disappointing to see a business with strong foundations end up in this position.”
Mr Pitt said: “There are a lot of talented people affected, and I hope they’re supported through what will be a difficult period.”